Busted Halo
feature : word on ths street
May 17th, 2008
Word on the Street : Debt

Do you have financial debt? How do you feel about debt?

Dave, 33
"I am very fortunate to not have any debt but I am likely going back to school in the fall and I'll be incurring a lot of debt over the next few years. I'm a little wary because I have never really been in too big a hole. I don't expect to be a home owner so in some ways this is my mortgage, living in the home of my education. I'm trying to avoid [debt] but I'm not terrified of it."
Evan, 21
"Well, I guess I am very indebted to my parents at this point for paying for school but otherwise I have managed to steer clear of debt. I would not be comfortable being indebted to anyone. I don't know how frightened I would be. Young people pretty much start life out in debt and it's just terrible. Debt is a big burden but you just have to watch it."
Niko, 22
"Absolutely. I am in debt but there is a very big benefit to being a traditionally Orthodox Christian. Since our Christmas is in January, we get to save more money than the Catholics do. [Debt] doesn't change a thing [about Christmas] because I don't think [the holiday] has anything to do with the phsyical gifts. The gift that we received was the gift of Jesus. And I think that is what Christmas is all about."
Fran, 17
"Well, as a student, yes. I have a lot of loans to pay off. I'm nervous but I see it as an investment in my education and it's going to be paid off eventually when I get a job in the field that I want."
Carlton, 22
"Of Course. Anyone who has ever gone to college does. I'm comfortable with it. It's kinda the American way, the way to build credit. You have debt, you pay it off, you get your credit. I mean, you have to be willing to work hard and pay it off. Only the rich can afford to not have debt. I think everyone, for the most part, will have debt for the rest of their lives."
Mike, 20
"I have no money. I am a student. I am not going to be buying any Christmas gifts. If I had credit, I would definitely use it. I mean, I would leave all my debt to my children anyways."
Noah, 23
"I actually don't have a credit card which I think is good for me because I already have enough debt with student loans. But I know my father and my mother both go into a little bit of debt during the holidays which is unfortuante because you would think we would try to learn to live with what we have. There is a little bit of guilt that goes on knowing that this expensive gift that my dad or mother has given me has upped their credit card bill for the month.

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